THE Fremantle BID has secured funding for the next three years after reaching a detente with the chamber of commerce.
Chamber CEO Olwyn Williams had previously called for Fremantle council to withhold funding from the BID after being unimpressed by it’s first attempt at a new business plan and modest output in its first five years.
But at this week’s finance and policy committee meeting, Ms Williams said the two organisations had worked hard to overhaul the business plan and reach agreement.
“We are requiring the BID to provide a lot more information and feedback on the activities they are undertaking,” Ms Williams said during public question time.
She said the chamber was even comfortable supporting the business plan despite an annual deficit, as the BID had previously been unnecessarily hoarding its funding.
“We support the annual deficit on the understanding it’s about spending the money to make Fremantle better for business,” Ms Williams said.
BID CEO Tim Milsom said he hoped to be announcing new revenue streams in the near future which would make the organisation’s admin cost-neutral.
The committee’s vote will have to go to full council.